Entrepreneur
What actually works for getting enterprise customers to pay on time
The most common approach I see is also the one that works the least: a reminder when the invoice is 30 days overdue, a slightly firmer one at 60 days, and then someone on the finance team making an uncomfortable call at 90 days. The companies that have actually shortened their collection cycles are almost all doing something different earlier in the process. Three things that showed up consistently among the ones who improved this: Clear escalation language in the contract itself. Not just...
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